Chicago banker was visionary behind Lakewood Ranch

Schroeder-Manatee Ranch CEO Rex Jensen, left, with former CEOs Mary Fran Carroll and John Clarke at the Polo Grill in Lakewood Ranch in September 2010. Carroll, who expanded SMR's operations from cattle ranching and aggregate mining to real estate development, died March 24, 2-014, at age 92.

Published: Friday, March 28, 2014 at 1:00 a.m.

Last Modified: Friday, March 28, 2014 at 12:24 a.m.

SARASOTA COUNTY - Mary Fran Carroll had dreams of creating her own city.

But when the Chicago banker came to Southwest Florida to sketch out plans for 30,000 acres of pastureland, she was told it couldn’t be done in such a remote area.

In the years that followed, Carroll helped orchestrate development that saw those fields transformed with more than 8,500 homes, 4 million square feet of commercial space and retail shops east of Interstate 75 that would become Lakewood Ranch.

The woman whose vision is today one of the best-known master-planned communities in the U.S. died at her Sarasota home Monday. She was 92.

Carroll’s legacy is as vast as the former cattle ranch she helped mold.

She rose up the ranks of corporate banking and development in Florida at a time when those industries were predominately run by men. But Carroll’s bigger impact, colleagues and friends say, was found in her love for the community.

As a sign of mutual affection, today a Braden River bridge, a Palmer Ranch nursing center and a Lakewood Ranch road are named after her.

“She was a terrific leader,” said Roger Postlethwaite, who worked with Carroll at Schroeder-Manatee Ranch Inc., the master developer of Lakewood Ranch, in the development’s infancy.

“She had a great vision and was instrumental in developing that vision for Lakewood Ranch. Of course, her vision turned out to be exactly right.”

Carroll was born an only child in Chicago in January 1922.

After graduating from Northwestern’s prestigious Kellogg School of Management with a master’s degree, she travelled throughout Europe in the wake of World War II before beginning a career in business.

She joined Northern Trust Co.’s Family Business division in 1967 and oversaw client assets that ranged from private businesses to oil investments and real estate.

When she retired in 1984, she was a vice president and a division chief.

Those who worked with Carroll closely say she was remarkably in tune to her surroundings, with a hands-off approach to management.

When she needed to be tough, she was hard as nails. But she also had compassion for people that few in the workplace could rival.

“What she accomplished and ahead of her time — she really was a pioneer,” said Philip Delaney, managing director and president for Northern Trust in Sarasota.

While at Northern Trust, in 1976, Carroll was asked to represent the Uihlein family — Milwaukee beer heirs and a major Northern Trust client — on the SMR board of directors.

Four years later, she was named chairman of the family business, and later SMR’s chief executive as the company transitioned from ranching to development.

“She came in as a city person with a dress, so she went out and got herself a pair of boots to mix in with the farmers. Then she would put the dress back on to go meet with the chamber,” said John Clarke, a long-time friend of Carroll’s who succeeded her as SMR’s CEO. “She had that ability to get along with people from all walks of life.”

Friends say Carroll possessed a unique ability to secure unanimous votes among board members — even if family members were bickering at the time.

Clarke also remembers one meeting with county officials, as SMR was attempting to build commercial space south of University Parkway.

The county had decided, via purple dots on a map, where commercial development could occur. Lakewood Ranch had no such dot.

But when Carroll showed up to a meeting in a purple dress, it only took her a few minutes to change their minds.

By 1995, Lakewood Ranch would grow to include 15,000 residents.

“Lakewood Ranch is her heritage, her legacy,” said Lynn Robbins, a Coldwell Banker Realtor and a long-time friend of Carroll’s.

Carroll also was instrumental in bringing polo fields, the tony Out of Door Academy private school and a hospital to the master-planned community.

After Carroll retired from SMR in 1997, she helped develop The Glenridge on Palmer Ranch, a major senior living development. She lived there and served as the first chairman of the board.

She also served on the boards of the Sarasota Community Foundation, Argus Foundation, Lighthouse for the Blind and Manatee Memorial Hospital.

“Her reputation was top drawer,” said Tom Danahy, president of Babcock Ranch, who knew Carroll through SMR. “She was held in a high regard by everyone who knew her.”

Carroll is survived by her numerous friends and her cat, Zoro.

A mass has been scheduled for 9:30 a.m. Wednesday at St. Thomas More Catholic Church, in Sarasota. In lieu of flowers, donations may be made to the Sarasota Community Foundation.

<p><em>SARASOTA COUNTY</em> - Mary Fran Carroll had dreams of creating her own city.</p><p>But when the Chicago banker came to Southwest Florida to sketch out plans for 30,000 acres of pastureland, she was told it couldn't be done in such a remote area.</p><p>In the years that followed, Carroll helped orchestrate development that saw those fields transformed with more than 8,500 homes, 4 million square feet of commercial space and retail shops east of Interstate 75 that would become Lakewood Ranch.</p><p>The woman whose vision is today one of the best-known master-planned communities in the U.S. died at her Sarasota home Monday. She was 92.</p><p>Carroll's legacy is as vast as the former cattle ranch she helped mold.</p><p>She rose up the ranks of corporate banking and development in Florida at a time when those industries were predominately run by men. But Carroll's bigger impact, colleagues and friends say, was found in her love for the community.</p><p>As a sign of mutual affection, today a Braden River bridge, a Palmer Ranch nursing center and a Lakewood Ranch road are named after her.</p><p>“She was a terrific leader,” said Roger Postlethwaite, who worked with Carroll at Schroeder-Manatee Ranch Inc., the master developer of Lakewood Ranch, in the development's infancy.</p><p>“She had a great vision and was instrumental in developing that vision for Lakewood Ranch. Of course, her vision turned out to be exactly right.”</p><p>Carroll was born an only child in Chicago in January 1922.</p><p>After graduating from Northwestern's prestigious Kellogg School of Management with a master's degree, she travelled throughout Europe in the wake of World War II before beginning a career in business.</p><p>She joined Northern Trust Co.'s Family Business division in 1967 and oversaw client assets that ranged from private businesses to oil investments and real estate.</p><p>When she retired in 1984, she was a vice president and a division chief.</p><p>Those who worked with Carroll closely say she was remarkably in tune to her surroundings, with a hands-off approach to management.</p><p>When she needed to be tough, she was hard as nails. But she also had compassion for people that few in the workplace could rival.</p><p>“What she accomplished and ahead of her time — she really was a pioneer,” said Philip Delaney, managing director and president for Northern Trust in Sarasota.</p><p>While at Northern Trust, in 1976, Carroll was asked to represent the Uihlein family — Milwaukee beer heirs and a major Northern Trust client — on the SMR board of directors.</p><p>Four years later, she was named chairman of the family business, and later SMR's chief executive as the company transitioned from ranching to development.</p><p>“She came in as a city person with a dress, so she went out and got herself a pair of boots to mix in with the farmers. Then she would put the dress back on to go meet with the chamber,” said John Clarke, a long-time friend of Carroll's who succeeded her as SMR's CEO. “She had that ability to get along with people from all walks of life.”</p><p>Friends say Carroll possessed a unique ability to secure unanimous votes among board members — even if family members were bickering at the time.</p><p>Clarke also remembers one meeting with county officials, as SMR was attempting to build commercial space south of University Parkway.</p><p>The county had decided, via purple dots on a map, where commercial development could occur. Lakewood Ranch had no such dot.</p><p>But when Carroll showed up to a meeting in a purple dress, it only took her a few minutes to change their minds.</p><p>By 1995, Lakewood Ranch would grow to include 15,000 residents.</p><p>“Lakewood Ranch is her heritage, her legacy,” said Lynn Robbins, a Coldwell Banker Realtor and a long-time friend of Carroll's. </p><p>Carroll also was instrumental in bringing polo fields, the tony Out of Door Academy private school and a hospital to the master-planned community.</p><p>After Carroll retired from SMR in 1997, she helped develop The Glenridge on Palmer Ranch, a major senior living development. She lived there and served as the first chairman of the board.</p><p>She also served on the boards of the Sarasota Community Foundation, Argus Foundation, Lighthouse for the Blind and Manatee Memorial Hospital.</p><p>“Her reputation was top drawer,” said Tom Danahy, president of Babcock Ranch, who knew Carroll through SMR. “She was held in a high regard by everyone who knew her.”</p><p>Carroll is survived by her numerous friends and her cat, Zoro.</p><p>A mass has been scheduled for 9:30 a.m. Wednesday at St. Thomas More Catholic Church, in Sarasota. In lieu of flowers, donations may be made to the Sarasota Community Foundation.</p>